The Sunday morning news. [volume] (Jersey City [N.J.]) 1886-1891, 1887-07-03
CHAPTER xiv.

An act to authorize the formation of com
panies for mutual protection against
damage to glass by hail.
1. Be it enacted by the Senate and Gen
eral Assembly Of the State of New Jersey,
That any number Of persons not less than
seven in plumber may associate and form
an incorporated company for mutual pro-
lection against loss or damage to glass by
hail, and for that purpose shall make,
acknowledge and file, 10 the manner here
matter mentioned, certificate in writing
of their organic ation, signed by all the
corporators, expressing their intention and
desire to form company for the purposes
aforesaid and setting FORTH
| The name of such company to be
used in its dealings and BUSINESS;
II. The place where the principal office
of said company is located and Its genera
business conducted;
LII. The names and residences of the
corporators;
w. The period at which such company
shall commence and terminate, not exceed
ing thirty years, which certificate shall be
proved or acknowledged and recorded as
required of deeds Of real estate, in the Of
flee of the clerk of the county where the
principal Office of said company is to be To-
Gated, and after being so recorded, shall
be filed in the office of the Secretary OF
State; and upon the making and fling of
said certificate, such company shall be
deemed and taken to be a corporation ia
fact and in law, with all the powers men
toned in the first section of the act en-
titled '.An act concerning corporations"
Q. And be it enacted, That the members
of said company shall consist of such per-
sons AS shall from time to time be insured
therein and shall have duly paid their
regular membership fee and such sums by
way of annual or periodical dues as shall
be determined and provided in the consti-
tuition or by laws Of said company.
3. And be it enacted, That every COM
pany formed under this act shall adopt a
constitution and such bylaws for the gov
ernment and management of its business
as its members shall deem proper; pro-
vided, the same shall not contravene the
laws or constitution of this state or the
United States.
4. And be it enacted, That every mem
Der shall be entitled to one vote at an cleo
ton for directors or at any meeting of the
members of said company, which vote
may be given in person or by proxy.
g. And be it enacted. That the business
of such company shall be managed by a
board Of not less than seven directors, one
of whom, at least, shall be residents of
this State, who shall hold their Office for
one year and until their successors shall
be appointed. and who shall be chosen by
the members of said company at such
times as shall be provided in the bylaws.
6. And be it enacted, That it shall be
lawful for said company to require and
levy assessments to pay losses incurred, in
such way and manner as may be deemed
necessary, and any member failing to OBJ
serve and pay the same, or failing to pay
the annual or periodical dues, as required
by the general regulations of said com
pany, shall forfeit and lose his member
ship and all interest in SAID company.
7. And be it enacted, That the'member-
ship fees, annual and periodical dues, and
such assessments as shall from time tc
time be levied, shall, after deducting the
necessary expenses of management, be the
fund out of which members insured shall
receive payment for loss or damage tc
glass incurred by hail, and such moneys
shall be collected and paid, and proofs Of
loss shall be made under such regulations
and rules as shall be provided in the con,
stitution and by-laws of said company.
s. And be it enacted, That this act shall
take effect Immediately.
Annr0vpd March % 1897